Shell Companies in Nigeria has emerged the best compliant company of the Nigerian Content Act, according to Nigerian Content Development Perception Index (NCDPI).
The survey ranked Total as second best, followed by Sinopec Addax, Agip (NAOC) was ranked fourth, Chevron and ExxonMobil were ranked fifth and sixth respectively.
The 2019 edition of the NCDPI is the ninth edition and it was sponsored and conducted by Borderless, a not-for-profit organisation.
According to the founder of Borderless, Tunde Kusamotu, Esq., the 2019 edition is titled: ‘Looking Back, Looking Forward’ and “the goal of the survey is to raise awareness and promote greater commitment towards Nigerian Content Development.
“The survey generated feedback from a cross-section of indigenous oil and gas companies on how the NOGIC- Nigerian Content Act can be better implemented. Included in the survey is the Nigerian Content Perception Development Index (NCPDI), an annual ranking of International Oil Companies (IOCs) in order of commitment to Nigerian Content, with 1, representing the most committed IOC and 6, representing the least committed IOC to Nigerian Content Development.”
He said other areas of concerns, according to the feedback from respondents included the disbursement of Nigerian Content Intervention Fund which they argued would be more effective if tied to already secured contracts.
“NCDMB can better advance greater Nigerian participation in Oil and Gas sector through better monitoring of operators; IOCs can show greater commitment to Nigerian Content development by guaranteeing loans to service companies for contract execution.
“As developmental partners, the NCSMB is perceived to have performed satisfactorily in assisting indigenous companies. But as regulators, the NCDMB has performed unsatisfactorily in monitoring, sanctioning and ensuring compliance by operators,” he said.
He also said the National Assembly (NASS) requires a more robust oversight regime of the NCDMB to ensure better monitoring and compliance with the NOGIC Act by operators.
He recommended that NCDMB should set a limit on amount of the Nigerian Content Fund spent by the Board on its operations